Both approvals were part of a $25 billion DoE program to extend low-interest loans to automakers and parts companies who retool existing plants to build advanced-technology vehicles whose fuel efficiency is at least 25 percent better than current cars.

Fisker's loan will fund both engineering integration work on the Fisker Karma, and development of its next vehicle, a less-expensive plug-in hybrid family sedan known as "Project Nina". The second car is planned for U.S. production; the Karma will be built in Finland.

Much of Fisker's engineering and design work will be done at its facility in Pontiac, Michigan, although its headquarters are in Irvine, California. The state of Michigan has its own program of tax abatements and grants to retain and attract vehicle and parts makers.

The DoE said in its press release that the Fisker loans will save or create roughly 5,000 jobs at U.S. parts makers. Thousands more would result if the Project Nina plug-in hybrid goes into production in the States.